version has got to get through. i think the obama administration understands it's politically untenable to have this thing die on the vine, because then they're incapable of getting any legislation through. you'll see whatever compromises are necessary to get some kind of health care package through. the larger question, what else are we thinking about? what's the context in which health care reform is occurring? and there's a tremendous of other economic issues, the most notable, what you began, unemployment, which we don't have the political will to address today. what you hope doesn't happen, all the political concern gets drained out on health care. the. >> one of the real economy issues was taxes. glen, upper instrumental in designing the bush tax cuts in 2003, set to expire now in 2011. a lot of people feel that if we were to see these tax cuts expire, that's going to pressure an already fragile recovery. what are your thoughts on higher taxes next year? >> well, there's two sense in which the higher taxes would hurt the recovery. one would be higher taxes on entrepreneurs, small

. president obama's trip to china, why that country is increasingly more important to america. and why they may not be listening quite as closely to tuesday as they used to. safe at home. playing ball with joe torre. he'll talk about his foundation, his success and a little bit of baseball. the "wall street journal report" begins right now. >>> here's a look at what's making news. the american consumer may be in slightly better shape than many experts thought. retail sales for the month of october were release this week and sthoed an increase of 1.4%, nearly double what economists were looking for. that's important because consumers make up about 70% of the u.s. economy. the data helped push the markets up to a 13 month high on monday. they nudged higher again on tuesday but fell mid-week on weak economic data. there was mixed news on the inflation front. the producer price index which measure wholesale prices rose more slowly than expected. on the consumer price index which measures retail inflation came i slightly higher than expected because of rising energy prices. investment banki

f you were advising president obama what would you tell him to do at this moment in time? we will take a break in the discussion, and up next on "wall street journal report," more on capitalism and the road ahead. where are the bright spots ahead in the nex decade and what will get the unemployment rate lower? back in a moment. ike no other. and now they're being offered like no other. come to the winter event and get an exceptional offer on the mercedes-benz of your dreams. it's our way of showing a little holiday spirit. but hurry - the offer ends soon. you all want to run your businesses more efficiently, so we've brought in a team of experts to help. one suggestion is to make your shipping more efficient with priority mail flat rate boxes from the postal service. shipping's a hassle! weighing every box... actually, with flat rate boxes you don't need to weigh anything under 70 pounds. if it fits, it ships for a low flat rate. call or go online for a free flat rate box shipping kit that includes free boxes and our helpful shipping guide. do it today, and we'll ship it all

with crushing inflation in the 198 0z. he is currently chairman of president obama's economic recovery board, but is the administration hearing what he has to say? this week we sat down to talk about regulation, the deficit, and a meeting mr. volcker had with the president earlier that day. as you'll see in a few minutes, mr. volcker was in a rush to leave. >> we emphasize the importance of obviously getting sustainability in the economic recovery, which we hope and believe has started in the third quarter. we've got to move to an economy that can produce more jobs. i think that means to be sustained over a period of time we need to improve our export ability and capacity. that means more manufacturing. there was a discussion of the importance of infrastructure. there was importance -- considerable discussion of how can we take advantage of, so to speak, the need for a grown economy where we do a lot of the invasion. can we build upon the invasion that's a strength of the united states into actual production, and there was considerable talk about retro fitting buildings to safe a lot of ene

love this story. you appeared on the list 22 times since barack obama was elected. more frequently than anyone else. you are visiting the white house a lot, huh? >> i think it's really great, but this president, you know, wants to hear about how we're going to create good jobs, solve the health care problems, raise american workers' wage. it is really a pleasure to have people that are listening. >> you really fooil feel like you have the president's ear. >> i think we have an administration that said they wanted to govern for the middle class, and i think we're seeing in so many different things, particularly in health care and the stimulus that they need it. >> i have this article here. it says that yourself and other labor union leaders reportedly gave democrats some $400 million last year. do you feel that that money has been well spent? let me ask you about your number one goal, which, of course, is card check. a lot of people feel that's dead. >> well, i think what we now know is that american workers need a raise. i mean, that is pretty clear. there isn't a lot of money in the go

's making news ae wed we head into a new week on wall street. president obama will be hosting a white house summit on jobs in december. the president is inviting leaders from the business world and the public sector to find weighs to create more jobs and put america back to work. the unemployment rate currently stands at 10.2%. a big deal in the woshld of technology. computer giant hewlett-packard is acquiring 3comin a deal valued at. that puts hp in a position to rival cisco. >>> fourth quarter earnings beat analyst expectations. the dow continued to set new highs for the year, soaring more than 200 points on monday, and rose for six straight sessions. the rally lost steam by thursday on weak economic data. on friday the markets rebounded. earnings season is winding down, but some companies are still reporting. dow compoen ebts disney and wal-mart beat analysts' expectings as did some key retailers. ma macy's and kohl's were stroj stronger than expected. can we be sure the turn-around continues? joining us is the man on the frontlines, jim tisch, president and ceo of lowe's. ranging from l

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